CAPITULO I: FUNDAMENTO TEORICO
1.16 SEGURIDAD MINERA
1.16.9 Peligro
unregistered persons in the State. Rs. 9,29,28,622/- 2. Add purchases of goods made from within the State
without payment of tax which are in the stock on the
date of registration under the VAT Act. Rs. 3,72,890/- 3. Total Rs. 9,33,01,512/- 4. Less purchase price of diesel, building material and
electrical installation excluding tax incidental to the
business. Rs. 29,82,189/- 5. Balance Rs. 9,03,19,323/- 6. Input tax in respect of goods of Col.5 Rs. 90,31,932/- 7. Amount of tax in respect of the goods in the stock
on the date of registration paid to the registered dealer under the Haryana General Sales Tax Act, 1973
(13,57,456 + 18,63,780) Rs. 32,21,236/- 8. Total input tax (6+7) Rs. 1,22,53,168/- 9. Proportionate input tax in respect of goods used
in sale in the State or in the inter-State trade or
commerce or in the export out of India. 1,22,53,168 x 33,86,77,386
10. Proportionate input tax in respect of goods
used in consignment transfers 1,22,53,168 x 76,10,48,835
--- = 84,79,619/- 1,09,97,26,221
11. Input tax credit in respect of the goods
used in Col.9 Rs.37,73,549/-
12. Input tax credit in respect of the goods
used in Col.10 8479619 x (10-4)
--- = 50,87,771/- 10
Example 3
M/s Whirlpool India Limited is registered under the Haryana VAT Act and the Central Sales Tax Act, 1956 at Faridabad in the State of Haryana and is engaged in the manufacture and sale of Refrigerators etc. and their parts. In the first period under the VAT the dealer has effected sale of manufactured items in the State at Rs.3094.02 lakhs, in the course of interstate trade and commerce at Rs.1684.65 lakhs and in the course of export out of India at Rs.230.78 lakhs. The dealer has also transferred manufactured goods worth Rs.31285.25 Lakhs to its various branches situated outside in the State. The dealer has purchased iron and steel worth Rks.1229.60 lakhs inclusive of tax @4% and the other goods worth Rs. 1844.93 lakhs inclusive of tax @10% including diesel and building material and electric installation worth Rs.496.65 lakhs from other registered dealers in the State. The dealer has also purchased capital goods (plant and machinary) worth Rs.395.38 lakhs (inclusive of tax @4%) from within the State. In the stock of the dealer as on the date of registration under the VAT Act there were goods worth Rks.853.03 lakhs, 1066.20 lakhs and Rs.1421 lakhs which were purchased after payment of tax @4%, 5% and 10%, respectively, besides the goods worth Rs.3767.77 lakhs purchased without payment of tax from within the State under the Haryana General Sales Tax Act, 1973. Calculate the VAT liability of the dealer.(All the purchases all inclusive of tax and sales are exclusive of tax wherever applicable).
Solution
(Figures in Lakhs.) 1. Total Sales 5009.45 2. Purchases from unregistered persons Nil.in the State.
3. Purchases in the stock on the date of
registration under the VAT Act made
from within the State without payment 3776.67/- of tax.
4. Total. 8786.12 5. Less inter-State-sale and export out of
India 1915.43 6. Balance 6870.69 7. TTO @ 10% 6870.69 8. Tax assessed 687.06 9. Total input tax credit as per the calculation
charts enclosed. 458.21 10. Tax payable 228.85
CALCULATION CHART OF INPUT TAX CREDIT IN RESPECT OF GOODS TAXABLE @ 4%
(Figures in Lacks) 1. Purchase of goods including capital goods
excluding tax from within the State. 1562.47
ADD
2 Purchase in the stock without payment of tax Nil. 3. Input tax 62.49 4. Amount of tax in respect of the goods in
the stock on the date of registration under the Act paid to the registered dealers under
the Haryana General Sales Tax Act, 1973. 32.80 5. Total input tax 95.29 6. Proportionate input tax in respect of the
goods used in sale in the State or in the course of inter-State trade or commerce
or in the export out of India. 95.29 x 5009.45
--- = 13.15 36294.70
CALCULATION CHART OF INPUT TAX CREDIT IN RESPECT OF GOODS TAXABLE @ 10%
(Figure in Lakhs) 1. Total purchases of goods excluding tax when
purchased from registered dealers, & from
unregistered persons in the State. 1677.20 2. Add purchases of goods made from within the State
without payment of tax which are in the stock on the
date of registration under the VAT Act. 3767.77 3. Total 5444.97 4. Less purchase price of diesel, building material and
electrical installation excluding tax incidental to the
business. 451.50 5. Balance 4993.47 6. Input tax in respect of goods of Col.5 499.34 7. Amount of tax in respect of the goods in the stock
on the date of registration paid to the registered dealer under the Haryana General Sales Tax Act, 1973
(50.77+ 129.18) 179.95 8. Total input tax (6+7) 679.29 9. Proportionate input tax in respect of goods used
in sale in the State or in the inter-State trade or
commerce or in the export out of India. 679.29 x 5009.45
--- = 93.75 36294.70
10. Proportionate input tax in respect of goods
used in consignment transfers 679.29 x 31285.25
--- = 585.53 36294.70
11. Input tax credit in respect of the goods
used in Col.9 93.75
12. Input tax credit in respect of the goods
used in Col.10 585.53 x (10-4)
--- = 351.31 10
Session I Numerical examples of calculating VAT liability of a dealer.
Session II Numerical examples of calculating VAT liability of a dealer.
Session III
Registration under the VAT Act.
Amendment in the certificate of VAT registration. Cancellation of the Registration Certificate.
Maintenance of Accounts in the VAT System. Filing of returns & payment of Tax.
Day IV
Session IV
What to do & How to do when VAT returns not filed. What to do & How to do when VAT returns have been filed Assessment in the VAT System.
Session – I
Objectives
In this session we shall take up various numerical examples of calculating VAT Liability of a dealer.
Session – II
Objectives
In this session we shall take up various numerical examples of calculating VAT Liability of a dealer.
Session –III
Objectives
In this session we shall discuss the registration of a dealer under the VAT Act. The eventualities of cancellation and amendment of the registration certificate under the VAT Act. What are the various account books which are required to be kept by a registered dealer in the VAT System. The method of filing the returns and payment of tax in the VAT System.